Gabelli Convertible & Income Securities Fund (NYSE:GCV) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Gabelli Convertible & Income Securities Fund Inc. (NYSE:GCV) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.82 and traded as high as $3.96. Gabelli Convertible & Income Securities Fund shares last traded at $3.92, with a volume of 25,197 shares changing hands.

Gabelli Convertible & Income Securities Fund Price Performance

The stock’s fifty day moving average is $3.82 and its 200-day moving average is $3.75.

Gabelli Convertible & Income Securities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 12.2%.

Insider Activity

In other news, Director Thomas H. Dinsmore acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average price of $10.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director owned 25,000 shares of the company’s stock, valued at $250,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new position in Gabelli Convertible & Income Securities Fund in the first quarter valued at about $38,000. Arete Wealth Advisors LLC acquired a new position in Gabelli Convertible & Income Securities Fund in the fourth quarter valued at about $57,000. Raymond James Financial Inc. acquired a new position in Gabelli Convertible & Income Securities Fund in the fourth quarter valued at about $83,000. Cetera Investment Advisers acquired a new position in Gabelli Convertible & Income Securities Fund in the fourth quarter valued at about $110,000. Finally, Wolverine Asset Management LLC acquired a new position in Gabelli Convertible & Income Securities Fund in the second quarter valued at about $148,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

About Gabelli Convertible & Income Securities Fund

The Gabelli Convertible and Income Securities Fund Inc is a closed-ended balanced mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity and fixed income markets. The fund seeks to invest in stocks of companies operating across diversified sectors.